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TIAA - CREF

PRI reporting framework 2018

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Overview

LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate whether your organisation has a formal engagement policy.

01.2. Attach or provide a URL to your engagement policy.

01.3. Indicate what your engagement policy covers:

          Our Policy Statement on Corporate Governance provides a summary of types of engagement activities we may pursue.
        

01.4. Provide a brief overview of your organization’s approach to engagement

TIAA Investments maintains a long history of engaging with public companies to improve corporate governance. Our pioneering effort dates back to the 1970s, when we were one of the first institutional investors to engage in dialogue with companies on social issues. Our public-equity portfolio of $354 billion (as of 12/31/17) puts us in an influential position when voting on shareholder resolutions.

TIAA Investments prefers to engage privately with portfolio companies when we sense potential shortcomings in their governance or environmental and social policies and practices that we believe impact their performance. We look to raise concerns and allow companies to explain how their policies and practices address these concerns. Our goal is to respect the proper role of shareholders to exercise oversight, and provide our views on governance practices and shareholder rights, urging voluntary action. We believe constructive engagement strategies help to build trust, improve understanding and create space for dialogue. 

In addition to private engagements with portfolio companies, we also take on market-wide issues, share our views and engage on those issues in public forums where portfolio companies and investment peers are gathered to hear different viewpoints. These are generally public in nature and do not target specific companies.

01.6. Additional information [optional]


LEA 02. Reasoning for interaction on ESG issues

02.1. Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual/Internal staff engagements
          To support investment decision-making
        
Collaborative engagements
          To influence regulatory approaches
        
Service provider engagements

Please specify why your organisation does not engage via service providers.

We maintain an in-house engagement program staffed by our Responsible Investments team

02.2. Additional information. [Optional]


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